Credit Cards have earned a reputation for encouraging people to spend. But if you use your Credit Card smartly, it doesn’t necessarily need to be considered a bad thing. Find out how swiping your Credit Card can be more rewarding than spending cash when you shop.
Shopping with your Credit Card might actually be a good idea as you get to enjoy a several benefits when you shop with your card. In fact shopping with your Credit Card can be more rewarding than using net banking or opting for cash on delivery when you make a purchase.
EMI Payments
Let’s start with a real life example. Say your trusty laptop, which you’ve had for years and years finally decides that it time to say adieu. You do everything that you can to resuscitate it but you have to face the sorry fact that it’s never coming back to life. You’re now in a quandary. You need a new laptop but you don’t have sufficient funds at the moment. That’s when you remember you own a Credit Card! With a Credit Card you have this handy little option to pay for things in easy monthly instalments. So, you can buy your new laptop without too much of a hassle. You must keep in mind though that these instalments come with a rate of interest which usually ranges between 12-15% depending on the type of card you are using.
Cashback offers
Credit Card companies usually have a tie-up with major retailers like Amazon India, Flipkart, Snapdeal and others. The great thing about this is that you can benefit from attractive cashback offers when you shop online. So you don’t just get to buy your desired product, the icing on the cake is that you also earn additional cashback points!
Reward Points galore
Shopping with a Credit Card online not only gets you cashback points, it also helps earns you reward points which you can redeem at various departmental and retail stores. Credit Card companies usually provide you with a catalogue of items for which you can redeem your reward points. Some Credit Cards even allow you to buy airline tickets with these points or earn flyer miles among other things.
Exclusive deals
These days mobile and online shopping is at an all-time high and most banks and Credit Card companies have tie-ups with major retail brands. This collaboration allows you to enjoy a lower price or additional cashback points if you own a particular bank’s Credit Card. These special offers and deals are not available to other Credit Card owners. So enjoy these special deals!
Cash problems
One of the biggest benefits of shopping with a Credit Card is that you do not have to carry cash in your pocket. If you’re making a high value purchase, this can be both cumbersome and risky. Using a Credit Card instead can definitely be a more secure option.
So remember to keep your Credit Card handy if you plan to do some shopping and reap the benefits. If you’re thinking about applying for a Credit Card, we’ve got some options for you.